Tejassvi Aaharam Reports Widened Loss in Q1 Amid Revenue Decline
Tejassvi Aaharam Limited, a Chennai-based company, reported a wider net loss for Q1 FY2024. Revenue from operations decreased by 14.22% year-over-year to Rs. 1,537.59 lakhs. Net loss increased to Rs. 22.44 lakhs from Rs. 18.97 lakhs in the previous year. Total expenses declined by 13.88% to Rs. 1,560.03 lakhs. The company's basic and diluted EPS worsened to Rs. -0.32 from Rs. -0.31. The financial results were approved by the board on August 14 and received an unmodified review report from the statutory auditor.
*this image is generated using AI for illustrative purposes only.
Tejassvi Aaharam Limited, a Chennai-based company, has reported a wider net loss for the first quarter, as revenues declined and expenses remained elevated. The company's financial results, approved by the board of directors on August 14, reveal the challenges faced by the firm in the current economic environment.
Financial Performance
Tejassvi Aaharam's unaudited standalone financial results for the quarter ended June 30 show:
| Particulars (in Rs. Lakhs) | Q1 Current | Q1 Previous | YoY Change |
|---|---|---|---|
| Revenue from Operations | 1,537.59 | 1,792.45 | -14.22% |
| Total Expenses | 1,560.03 | 1,811.42 | -13.88% |
| Net Loss | (22.44) | (18.97) | 18.29% |
| Basic EPS (in Rs.) | (0.32) | (0.31) | 3.23% |
The company's revenue from operations declined by 14.22% year-over-year to Rs. 1,537.59 lakhs, down from Rs. 1,792.45 lakhs in the same quarter of the previous fiscal year. This decrease in revenue contributed to the widening of the company's net loss.
Expense Analysis
Despite the revenue decline, Tejassvi Aaharam's total expenses also decreased, albeit at a slower rate:
- Cost of materials consumed stood at Rs. 1,534.95 lakhs, representing the largest component of expenses.
- Employee benefits expense was Rs. 8.49 lakhs.
- Finance costs amounted to Rs. 9.53 lakhs.
- Other expenditure totaled Rs. 7.06 lakhs.
The total expenses for the quarter were Rs. 1,560.03 lakhs, slightly higher than the revenue generated, resulting in the reported loss.
Earnings Per Share
The company's basic and diluted earnings per share (EPS) for the quarter were negative at Rs. 0.32 per share, compared to Rs. 0.31 per share in the corresponding quarter of the previous year.
Management Approval and Audit Review
The financial results were reviewed by the audit committee and approved by the board of directors in a meeting held on August 14. The statutory auditor, Sundaram & Srinivasan Chartered Accountants, provided an unmodified review report, indicating that the financial statements fairly represent the company's financial position.
Outlook
While Tejassvi Aaharam Limited faces challenges with declining revenues and continued losses, the company operates in a single segment. The management has assessed the impact of internal and external factors up to the date of approval of these financial results, though specific details on future outlook or strategic initiatives were not disclosed in the available information.
Historical Stock Returns for Tejassvi Aaharam
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -4.97% | -8.41% | +10.17% | -20.67% | -22.82% | +153.25% |
15
